$Semiconductors(IN00297.US) The core of this semiconductor cycle is not "demand recovery," but the acceleration of structural changes. AI is turning computing power from a "cost item" into "productive infrastructure," and industry pricing power is shifting from end-users to upstream players. The real beneficiaries are not all manufacturers, but the few players with advanced processes, packaging capabilities, and ecosystem binding power.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.